New Zealand Legislation: Regulations

4 Application procedure to open holding accounts

• (1) To open a holding account, a proposed account holder must—

  • (a) be a qualified person; and

  • (b) apply to open a holding account via the Registry's Internet site.

  (2) The application procedure to open a holding account must require the proposed account holder to provide the following information:

  • (a) the proposed name for the holding account; and

  • (b) the proposed account holder's—

    • (i) full legal name; and

    • (ii) account name; and

    • (iii) physical address for service in New Zealand; and

    • (iv) postal address; and

    • (v) telephone number; and

    • (vi) email address; and

    • (vii) New Zealand registration number, if the proposed account holder is a New Zealand entity or overseas company registered in New Zealand; and

    • (viii) Australian registration number, if the proposed account holder—

      • (A) is an Australian company registered in Australia; and

      • (B) is not registered in New Zealand.

  (3) If the proposed account holder intends or is required to authorise a primary representative to operate the proposed account holder's holding account, the proposed account holder must follow the procedure set out in regulation 15.

  (4) The Registrar may not approve the opening of a holding account in the name of the proposed account holder unless the Registrar has received a declaration signed by the proposed account holder that contains a statement that—

  • (a) the proposed account holder authorises the opening of a holding account in the name of the proposed account holder; and

  • (b) the proposed account holder is a qualified person; and

  • (c) the information provided by the applicant is true and accurate.